“ The expectations for how services like banking should function have changed dramatically ”
— Stuart Templeton , Head of UK , Slack
53 adulthood , a failure to meet these new digital demands comes at the peril of legacy organisations .
Challenger banks such as Monzo and Starling swiftly recognised and responded to this shift . Taking an experience-first approach , these innovators built apps that cut the busy work out of banking . Focusing on simplifying the experience of everyday tasks — splitting a meal with friends , checking your balance or counting up the bills for the month , for example — led to skyrocketing user growth and fundamental changes in the way banking functions .
Understanding the needs of this new generation , as well as the unheard wishes of the customers of traditional banks that came before them , sounds simple . However , understanding those needs was only the first step . Responding to them required the ability to adapt and align rapidly . To meet a fundamental change in customer expectations , fintechs required a fundamental change in the way the workplace functions .
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